Employee recognition is a hot topic in 2021--a year which has seen unprecedented spikes in turnover, especially in the service industry. From restaurants to retailers, businesses in these spaces are becoming increasingly desperate to boost employee retention and gather the necessary insights to do so.
In one
employee attitudes survey
, employers examined data from respondents which described factors which were most important when influencing their decision to remain at their jobs. One of the most-echoed influential criteria reported by the respondents was the desire for Recognition. This need was especially pronounced in younger workers--with data from SHRM illustrating that
50%
of all millennial workers, and 70% of all gen Z workers report the need for recognition in the workplace. These numbers were further broken down into attitudes which reflected that an increase in recognition would promote higher levels of loyalty and engagement for more than
80%
of employees.
Engagement is the measure of how productive and emotionally dedicated employees are at their jobs. The connection between recognition and engagement is becoming more clear as data from human resources firms (coupled with living proof in most of the news covering the “Great Attrition”). Recognition provides the stepping stones to engagement by fostering a culture of shared identity and goals, social rewards from peers, and a sense of feedback for the progress made through employee efforts.
The relationship between recognition, engagement and retention appears to be transitive. Recognition secures engagement, and engagement secures employee willingness to remain loyal to a company and be retained.
At CAREit, we regularly examine employee attitudes research and workforce data to underline the importance of recognition, reward, and retention. Learn more about our solutions by visiting our
research page
, or request a
demo
to see our platform in action.